Anthony Rayner: The fiscal wave is coming

We have thought for some time that extreme monetary policy is looking increasingly tired. There has undoubtedly been a positive impact on financial markets, though there are concerns that this is reaching its limits. Meanwhile, the feed-through to the real economy has been disappointing and the consequences for areas like inequality are adding to the list of negatives, never mind the longer term concerns around capital misallocation. However, it's important to remember that the background to arriving at this point has been through a number of individual and fairly rational decisions - ev...